|
|
Article: Treasury, Department of the
- Article from:
- Dictionary of American History
- Author:
CopyrightCOPYRIGHT 2003 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
TREASURY, DEPARTMENT OF THE
TREASURY, DEPARTMENT OF THE.
At its inception in 1789 the U.S. Treasury Department quickly came to dominate the executive branch. Alexander Hamilton, the first secretary of the treasury, became a virtual prime minister in the Washington administration. Although the department's role diminished somewhat under future secretaries, it remained the cabinet branch most central to the operation of the federal government.
The administrative reach of the Treasury Department is enormous. Early Congresses mandated that the department create and oversee the U.S. Customs Service, the Internal Revenue Service, the U.S. Mint, the Coast Guard, and the First Bank of the ...